We are supervised by
Confrides street 19, Campello municipality, Alicante city, Spain (Stage 2)
Amount of funding
110 000 €
LTV
46%
Annual interest rate
12.00% - 14.00%
Total expected project return
11.00% - 12.83%
Loan period
11 mo.
Risk
C (higher)
Purpose of the loan
Loan for acquisition
Collateral
Real estate pledge
Country
Spain
Spain
Investors
135
Raised:
110 000 € Goal:
110 000 €
110 000 € Goal:
110 000 €
100.00%
| # | File name | File type | Actions |
|---|---|---|---|
| 1 | Tasación - Confrides 19 - Ulises Ruiz.pdf |
|
|
| 2 | 7522 23_Legal_report.pdf |
|
About the loan
Purpose of the loan
To increase the company's working capital
Amount of funding
110 000 €
LTV
46 %
Risk
C (higher)
Payment of interest
Once per quarter
Loan repayment
At the end of the loan period
Loan period
11 mo.
Minimum loan period
6 mo.
Collateral
Real estate pledge
Mortgage rank
First order mortgage
After successfully raised the first tranche to be used to purchase the asset and perform the initial reworking company will use the new proceeding to complete the refurbishment and promote the property sales on national and international portals as the locationis attractive for many british and northern european vacationers
Real estate company has an option to buy a very good house in El Campello, in a very good area of coves, between the city of Alicante and Benidorm. The owners earned the asset by heritage and are keen to sell below the market value. It is in need of renovation but owners don't want to do it, they are too old and don't want to spend money.
The option on the house is to sell it for 320.000 euros. The house is appraised at 478,000 euros . The renovation it needs is just over 18,000 euros. The real estate company pays for the renovation. In addition they will use additional +100,000 euros in cash for complete purchase and other expenses. The requested loan amount is EUR 220,000, which can be divided into 2 stages (but not more than 50% of the LTV indicator). Real estate agents are confident that it could very easily sell for more than 450,000 euros. With renderings of the reform, and putting it on the market from now on, the plan to sell the property in 3 or 4 months, making a profit of 100,000 euros.
Investment from 100 €.
Interest
Annual interest rate
- Investing from 100.00 € - fixed interest 12 %
- Investing from 1 000.00 € - fixed interest 12.25 %
- Investing from 3 000.00 € - fixed interest 12.5 %
- Investing from 9 000.00 € - fixed interest 12.75 %
- Investing from 15 000.00 € - fixed interest 13 %
- Investing from 20 000.00 € - fixed interest 13.5 %
- Investing from 25 000.00 € - fixed interest 14 %
The Interest on the Loan Amount shall be calculated from and including the date of disbursement of the Loan Amount to the Debtor's Account or to such other account (or accounts) as notified by the Debtor to the Operator in writing prior to the disbursement of the Loan Amount.
Loan term and repayment
Loan period
11 mo.
Minimum loan period
6 mo.
Loan repayment
At the end of the loan period
Estimated start date of the loan:*
2021-12-26
Estimated loan repayment date:*
2022-12-22
If the Debtor repays the Loan earlier than after the specified minimum loan period, it undertakes to pay interest to the Lender for the entire specified minimum period.
* The loan is planned to be repaid by the end of the project term from the expected growing income of the company, increasing profits, sale of assets or refinancing of the loan.
Procedure for disputes between parties to a financing transaction
The investor has the right to withdraw their investment within 96 hours from the submission of the money lending proposal on the platform
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